I have never been a fan of this bailout because I don’t think the government needs to bailout stupid greedy people. If anything this money should be used to buy the debt of the American people and not banks and Wall Street. One of the reasons I don’t support the bailout is this quote yesterday by someone from the Treasury Department.
“It’s not based on any particular data point,” a Treasury spokeswoman told Forbes.com Tuesday. “We just wanted to choose a really large number.”
I hope this person is now in the unemployment line. We need a better answer than this and some have said that it will be far higher than 700 billion.
On the flip side many people today are talking about what we could do with that money beside bailout Wall Street. Something to keep in mind is that this money does not exists. It is not like we are taking it from somewhere else to use on this, that is not the case. This is additional money that we the taxpayers will have to pay for. In the long run we will get it back when the market corrects itself, theoretically. But we need a better accounting than we just picked a big number. Let us not go crazy and let us take our time and do this right.
Fr. P.: We need to take our time and think this one out before we jump the gun. Tell me, do you ever get any rest?
i beleave in the free market of capitalism and that if your to big to fail then you also should be smart enough not to fail. the media said yesterday that the sky ways falling and we’d all be sorry. when i woke up this morning the sky was still there and the sun was shinning.today the market went up 500 points.i say let the market correct it self and in we go into a depression and i lose my 401k money then so be it. there is more to life then money and the fear of losing it.anne